Browsing: Digital loans

  • Hello Pay, a South African fintech company,  is providing merchants, micro and small enterprises with access to business loans of up to R250,000 that are both competitive and commercially attractive
  • Hello Pay provides a range of loan amounts, from R30,000 up to R250,000, In addition, the Hello loans’ interest rates are among the industry’s most reasonable rates
  • SMEs account for more than 98 per cent of all businesses, provide employment for between 50 and 60 per cent of the country’s workforce in all industries and are responsible for 25 per cent of the job growth in the private sector

Every dollar counts; therefore, business owners throughout the country are keeping a careful check on their budgets and cash flow in light of two significant increases in interest rates in the first half of 2022 alone.

Hello Pay, a South African fintech company, is acting as a champion for financial inclusion …

  • 57 per cent of those who took out loans from the mobile lending apps had them negatively affect their saving habits
  • CBK disclosed that the use of mobile money hit a historic high in December last year when Kenyans transacted KSh 622 billion through mobile phones
  • On average, Kenyans save between 6 per cent and 15 per cent of their monthly income, which is below Africa’s saving average of 17 per cent

A survey, Savings and Investments Behaviour Among Kenyans, by pension administrator Enwealth Financial Services shows that 68 per cent of the 244 respondents surveyed have applied for short-term personal loans from money lending apps.

The survey that was conducted in partnership with Strathmore University and the Institute of Human Resource Management (IHRM) has shown that the loans are taken from apps like Timiza, Tala, Branch, Fuliza, Finance Plan, Kuwazo, L-Pesa among others.

The study further revealed that 57